The U.N.’s Economic Commission on Latin America and the Caribbean warned last week that the COVID-19 outbreak threatens another “lost decade” for what the commission called the world’s worst-affected developing region in the world.
The Financial Times reported the commission said extreme poverty in the region is at its worst level in 20 years and impacts 78 million people. The report said there are about 208 million people in the region, with over a third living in poverty.
“The effects of the coronavirus pandemic has spread to all areas of human life, altering the way we interact, paralyzing economies, and generating profound changes in societies,” the agency said. The report said analysts do not expect the region to hit herd immunity until possibly well into next year.
Reuters reported that employment in Latin America, even in the best of times, is usually informal, which leaves workers vulnerable to slowdowns. The report said inequalities have been inching upward in recent years even before the coronavirus. The GDPs from these countries grew by a sluggish 0.3 percent, and overall poverty increased from 27.8 percent to 30.5 percent. There is concern the virus could result in a “generational catastrophe.”
The FT reported that women and children seem to be the most impacted by the virus. The report said schools have been closed there for a longer period than other nations, and about 60 percent of children have missed an entire year.
“In Latin America and the Caribbean, the loss will be more disastrous and far-ranging than in any other region for children, for parents, and for the society at large,” UNICEF said, according to the FT.
Virus Spread
Aside from its economic slump and troubling poverty numbers, Latin America and the Caribbean have done poorly in preventing the spread of COVID. Reuters reported that out of every 100 new cases worldwide, on average, 24 of those cases are from one of these countries.
As of Sunday, there have been 687,000 recorded deaths and at least 21,699,000 infections. The country with the most deaths is Brazil, which recorded more than 246,000 deaths. Its economy is expected to decline by 6 percent in 2020.
TREND FORECAST: As we have forecast, the spiraling downward situation in Latin America will result in a pronounced increase of migrants coming into America… many of whom are unaccompanied children.
Reports noted that last week alone, Border Patrol agents said about 350 children are crossing into the U.S. per day from Mexico, which the New York Post reported is more than quadruple from last fall.
Axios reported the Department of Health and Human Services (HHS) said that “[its] shelter system is at 94 percent occupancy and is expected to reach its maximum this month.” The report said a group from Biden’s team is considering visiting the border to get a grasp of the situation. The HHS has already opened overflow shelters.
TREND FORECAST: Beyond Latin America, as the “Greatest Depression” worsens and poverty, crime, corruption, and violence rises, with people losing everything and having nothing left to lose, they will be leaving their homeland for safe-haven nations.
As the migration trend accelerates, so, too, will anti-immigration populist parties.
